NOTE: BEGINNING IN 2020, ALL DUES PAYMENTS MUST BE RECEIVED WITHIN 30 DAYS OF THE INVOICE DATE. IF NOT RECEIVED AT THAT TIME, A 10% LATE FEE WILL BE ADDED AND REPEATED EVERY 30 DAYS UNTIL THE PAYMENTS ARE RECEIVED.
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Dues
Dues
What do our dues pay for?
Dues are used to pay for all expenses covering the Association Administration and Common Grounds. Common Grounds include the Clubhouse, Chapel, Fitness Center, Locker Rooms, and Saunas, Lounge, Pool and Ping-Pong Room, Tennis and Pickle Ball Courts, Bocce Court, Basketball Court, Children’s Playground and Swings, Main Swimming Pool, Spa and Kiddie Pool. In addition, all the landscaping and maintenance for the Formal Garden, the Fountain, both entrances and center islands and detention basins are the Association’s responsibility, including walkways, fences, railings, and parking areas. Let us not forget the members’ annual Holiday Party held in the Chapel every December.
Administrative costs include all vendor contracts, pool maintenance, utilities, insurance, snow removal, clubhouse and other maintenance/ repairs, funding of Reserve Accounts, legal and accounting professional fees, surveillance, and security monitoring technology, as well as payroll and Administrative Office costs.
How do I pay my dues?
Homeowners will get an invoice emailed to them twice a year in January and July. You can pay them via mail by check, drop off a check in the mailbox at the Flagpole on Emma Court or stop in to the Administrative office and drop off a check or cash, Monday through Friday, hours 9am to 5pm. Homeowners also have the option of paying online through their banks bill pay service. Please contact your bank for instructions.
What are Reserve Accounts?
The Reserve Accounts are broken into three categories: Replacement, Capital Improvement and Deferred Maintenance. The Association By-Laws require all three types of reserves, and a formal funding study is done every four years to determine how much to budget for the Replacement Reserves. Whatever is left over after all paid expenses and Replacement Reserves funding is usually divided into the other two Reserve Accounts.
When is the Budget reviewed?
Each year, expenses and income are projected for the balance of the year so that the following year’s budget can be determined. The Board of Trustees, the Administration Office and the Finance Committee are all involved in the budget process.
Where can we get a copy of the Budget?
The Rio Vista Mahwah Homeowners Association Annual Budget is mailed to all members with the Annual Meeting Documents in the fall. An in-person meeting at the administrative office to review the budget may also be requested via the Document Request Form on our website.
Questions about the budget and finances in general are addressed at the Members’ Annual Meeting in October. The Association’s accountant attends the meeting and is available to answer questions. Any other time, you can contact the Administrative Office with your questions and/or concerns.
NOTE: BEGINNING IN 2020, ALL DUES PAYMENTS MUST BE RECEIVED WITHIN 30 DAYS OF THE INVOICE DATE. IF NOT RECEIVED AT THAT TIME, A 10% LATE FEE WILL BE ADDED AND REPEATED EVERY 30 DAYS UNTIL THE PAYMENTS ARE RECEIVED.
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